A chemical supply company currently has in stock 100 b of a certain che nical wh

Question

A chemical supply company currently has in stock 100 b of a certain che nical which it sells to customers in 7 lb batches. Let X randomly chosen customer, and suppose that X has the following pmf. the number of batches ordered 3 4 p(x) 0.3 0.5 0.1 0.1 Compute E(x) and V(x E(X) = batches batches2 Compute the expected number of pounds left after the next customer's order is shipped and the variance of the number of pounds left. [Hint: The number of pounds left is a linear function of X. expected weight left variance of weight left lb Ib2

Explanation / Answer

E(X) = 1*0.3+2*0.5+3*0.1+4*0.1 = 2

V(X) = 1*0.3+2*2*0.5+3*3*0.1+4*4*0.1-2*2 = 0.8

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